Wall Street analysts expect Leggett & Platt, Inc. (NYSE:LEG) to post earnings per share (EPS) of $0.72 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Leggett & Platt’s earnings. The lowest EPS estimate is $0.71 and the highest is $0.73. Leggett & Platt reported earnings per share of $0.61 during the same quarter last year, which would suggest a positive year over year growth rate of 18%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, October 25th.
According to Zacks, analysts expect that Leggett & Platt will report full-year earnings of $2.62 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $2.64. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.92 per share, with EPS estimates ranging from $2.89 to $2.98. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Leggett & Platt.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Leggett & Platt had a return on equity of 27.73% and a net margin of 6.83%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS.
In other Leggett & Platt news, insider Matthew C. Flanigan sold 15,672 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $720,912.00. Following the transaction, the insider now directly owns 116,341 shares in the company, valued at approximately $5,351,686. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew C. Flanigan sold 29,248 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $44.09, for a total value of $1,289,544.32. Following the transaction, the insider now owns 115,039 shares in the company, valued at $5,072,069.51. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEG. Federated Investors Inc. PA purchased a new position in Leggett & Platt during the 1st quarter worth $138,000. Natixis Advisors L.P. purchased a new position in shares of Leggett & Platt in the 1st quarter valued at $970,000. Great West Life Assurance Co. Can increased its holdings in shares of Leggett & Platt by 2.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 159,657 shares of the company’s stock valued at $7,085,000 after acquiring an additional 4,044 shares during the period. California Public Employees Retirement System increased its holdings in shares of Leggett & Platt by 2.7% in the 1st quarter. California Public Employees Retirement System now owns 413,255 shares of the company’s stock valued at $18,332,000 after acquiring an additional 10,689 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Leggett & Platt by 42.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,034,888 shares of the company’s stock valued at $45,908,000 after acquiring an additional 307,448 shares during the period. Institutional investors own 77.46% of the company’s stock.
Shares of NYSE:LEG traded down $0.53 during trading on Friday, hitting $41.93. The company had a trading volume of 806,614 shares, compared to its average volume of 1,274,863. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.57 and a beta of 0.84. Leggett & Platt has a one year low of $39.57 and a one year high of $51.99. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.90 and a quick ratio of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 24th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, September 21st. This represents a $1.52 annualized dividend and a yield of 3.63%. Leggett & Platt’s payout ratio is currently 61.79%.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
Further Reading: Diversification Important in Investing
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.